Bayo has been nerfed for Smash Ultimate but, as other people have said, she'd have to be nerfed hard to not be a great character, kind of like how Shiek was made hilariously weak in Brawl to weigh out her strong comboing abilities. I feel like we don't have enough match up knowledge to make any strong conclusions yet but, for starters, Snake looks like a Bayo counter because grenades disrupt virtually everything she does close range and Snake still kills light weights with ease. Directional air dodging is a pretty big nerf in itself against Cloud and Bayonetta because even characters with terrible landing options now have something semi reliable. There's other things too like the fact that her slide kick dead stops if it hits shield, dair has a significantly reduced sweet spot, and the knock back for fair has been so reduced that it's almost impossible to carry characters to the side blast zones with it anymore.